Unchecking the relevant ppa's in the <Settings>Other Software> panel solved my 
problem.
However, I still say that there is a bug here.
Although perhaps not a (programming) bug, but maybe a incorrect report of the 
status quo.
Which should be easy to fix with some appropriate code.
But please fix it, because messages like this worry the hell out of newbies 
like me.

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https://bugs.launchpad.net/bugs/1097073

Title:
  update-manager fails to complete

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